The dark side of disruptive technologies and innovation

Destruction Cover
Destruction (Photo credit: Wikipedia)

Imagine a world in which there are no longer pimps and madams taking their middle cut of the business. Hard isn’t it? Well, some pundits believe these “jobs” will virtually disappear because of disruptive technologies and innovation. Craigslist and other online services, where workers can transact business direct with customers, will chop the middle person.

With the recession, job cuts and dynamically changing markets, many jobs have begun to go into decline or disappear. In the office, filing clerks, typists, telephonists and secretaries have been disappearing. So, too, have assemblers, metalworkers, toolmakers, sewing machinists and printers in the industrial and manufacturing sectors.

Over a long period disruptive technologies and innovation have all but wiped out microfilm professionals, photo lab technicians, photo-typositors, typesetters and stenographers.

Who’s next? Bookstore owners, bookbinders, meter readers, webmasters, flight booking agents, printers and print encyclopedia personnel?

Disruptive technologies and innovation can also lead to new jobs and careers. Some of the job titles predicted for the future may sound strange but think how weird web designer must have been for many in the 1990s. Green jobs may include a “cloud controller” (someone who helps clouds reflect solar radiation), “simplicity consultant” (a person who simplifies and streamlines processes, products and services in companies) and bioinformationist scientist (who combines genetic information with drug development and clinical techniques). Already bioformatician is a job description used in pharmaceutical companies. Continue reading “The dark side of disruptive technologies and innovation”

How does a small business exploit disruptive innovation?

WikiWorld comic based on article about Disrupt...
(Photo credit: Wikipedia)

I’ve been hearing a lot about disruptive technologies lately … at conferences, from small business owners in the web hosting and web design business and companies seeking business advantage in green products.

We’ve all seen technologies such as microwave ovens, memory storage and the Internet change our world whether as consumers or in businesses.

What exactly are disruptive technologies and how does this term differ from disruptive innovation?

Disruptive technology refers to new technologies that provide better performance than existing technologies or replace them. A simple example is that of seven-single records that were replaced by CDs and then by MP3s.

Disruptive innovation is any innovation whether technological or a business model that leads to the creation of a new market. Another simple example: cars were a technological innovation initially but were expensive and a luxury. But the disruptive innovation came about through mass-production of low-cost vehicles, the Ford Model T being the first, which revolutionised personal transport.

Most businesses are focused on incremental improvements, making existing products better, rather than introducing breakthrough products and services. When these larger businesses introduce their improved products and services, they usually aim at selling to their demanding base of existing customers to keep them. Examples could be high performance cars, higher spec smartphones and photocopiers with fast speeds and print-like quality.

Continue reading “How does a small business exploit disruptive innovation?”

What to do if Darth Vader rocks up at your brainstorming session

Star Wars - Darth Vader
Star Wars - Darth Vader (Photo credit: Wikipedia)

How do you know when you have Darth Vader in your brainstorming session?

When everyone has clammed up, is afraid to speak up and scared that their ideas will be dissed.

“I find your lack of faith disturbing,” says Darth Vader, destroying the confidence of all timid souls and crushing your quieter participants.

“The force is with you, young Skywalker, but you are not a Jedi yet,” is bound to demotivate all but the strongest members of your team who may believe they have the “force” of innovation coursing through their veins.

Strong personalities can present a challenge to brainstormers. Especially when the strong personality dominates and puts other team members down. Continue reading “What to do if Darth Vader rocks up at your brainstorming session”

How do you turn your small business into an innovation machine?

Innovation
Innovation (Photo credit: Seth1492)

A dog day care business faced stiff competition with similar businesses starting up. The owner decided to introduce new services such as caring for older, sickly pets, offering on-site vaccinations and placing webcams in the facility so owners could check their pets anytime. This innovation helped the business expand from 11 locations to 100 franchise outlets and wholly-owned shops.

The perception exists that small businesses are not as innovative as larger companies. Yet while this may be true for common village professionals like shopkeepers, real estate agents, plumbers, lawyers and doctors, many small business owners are highly innovative.

Why is innovation so important to small businesses? Continue reading “How do you turn your small business into an innovation machine?”

10 blunders that could spell the kiss of death to your new business idea

A husband and wife both enjoyed the same hobbies and started a small business based on what they loved doing. They were experts at what they did, knew how to market their products and enjoyed excellent customer relationships. But they failed at business planning, not calculating the amount of tax that was due and so had to close the business within a year.

A grim reminder of small business obituaries. Stories about start-up and small business failures abound. Over the past three years we’ve all seen many businesses go to the wall. Some surveys estimate that more than 50% of small businesses fail in the first year and 95% fail within the first five years.

Before you commercialise your brilliant idea check out some of the biggest mistakes below that businesses typically make. The mistakes are based on research by credit organisations as well as small business surveys that look into the main reasons why businesses go belly up.

The majority of businesses cite economic reasons for their failure. But at the same time up to 90% of all business failures can be traced to management mistakes.

Here is a list of 10 of the biggest mistakes that businesses make that often lead to their demise unless pre-emptive action is taken. Continue reading “10 blunders that could spell the kiss of death to your new business idea”